International Journal of Finance & Banking Studies

Successful housing projects improve living conditions and support community development, but many, especially in rural areas, struggle with issues like delays, cost overruns, and poor implementation, which can prevent them from reaching their goals. This study aims to investigate the effect of project management practices on implementation of integrated housing development projects in Rwanda, focusing specifically on the Kinigi Settlement Project, specifically, planning, stakeholder involvement, risk management, and M&E. This study was based on the Stakeholder Theory and Theory of Change (ToC) and adopted a descriptive and correlational research design, targeting 151 participant including project managers, site engineers, government officials, community leaders, and household beneficiaries of the Kinigi settlement. Questionnaire and interview were the main instruments for data collection. The pilot study tested the research tools with 15 respondents (representing 10% of the sample size) to check their accuracy and consistency. Experts confirmed the tools' validity with a score of 0.78, and reliability was proven with a Cronbach’s alpha of 0.79, showing the tools were effective for data collection. By using SPSS 28 version, descriptive statistics were used to determine frequencies and percentages, while regression analysis and Pearson correlation coefficients were employed to examine the relationships between the variables. The null hypothesis that project planning (p =0.000< 0.05) and risk management have no significant effect on implementation of integrated housing development projects were rejected while stakeholder involvement (p = 0.200 > 0.05) and monitoring and evaluation (p = 0.546 > 0.05) having no significant effect on project implementation were accepted. The study concludes that while factors like planning, risk management, and leadership are crucial for the success of Integrated Housing Development Projects in Rwanda, stakeholder involvement and Monitoring & Evaluation have minimal impact on project outcomes. Based on these findings, the study recommends prioritizing robust planning and risk management, improving stakeholder engagement strategies, and enhancing the integration of M&E with other project management processes for more effective outcomes in future housing projects. Further research should explore advanced risk management techniques, such as predictive analytics and scenario-based planning, to improve project planning and execution in high-risk environments.   

In the quest to achieve SDG 1 on eradicating poverty, improving savings rates in East Africa is crucial, as it lays the foundation for reducing financial vulnerability and achieving economic resilience. This paper investigated the determinants of individual savings in selected East African countries. Specifically, internet access, financial inclusion, and borrowing were the covariates while individual savings in East Africa were the predicted. This study utilized data from the Global Findex 2021 World Bank database. This dataset was selected because it is one of the most comprehensive databases on financial inclusion, providing a comprehensive view of adults' savings, borrowing, payments, and risk management across global and regional contexts. This study used a basic framework to explore the factors influencing individual savings by examining production, income distribution, and accumulation. A panel data logistic regression model was utilized, and Instrumental Variables (2SLS) regression was employed to test endogeneity. The Sargan and Basmann tests assessed overidentification restrictions to validate the instruments. Shea’s partial R-squared measured the unique contribution of each instrument in explaining the variation in endogenous variables, accounting for the influence of other instruments and endogenous variables. The Hausman test which model was suitable for panel data modeling. The 2SLS regression showed no evidence of endogeneity, as internet access was insignificant with a high p-value (> 0.05). Overidentification tests confirmed instrument validity with p-values of 0.1018 and 0.1016. However, Shea’s partial R-squared revealed weak instruments, especially for borrowing, with an adjusted value of 0.0328. Results revealed that borrowing is strongly and positively associated with saving. The higher the borrowing, the more the savings. In East Africa, most borrowers are savers. These use the borrowed funds to create an injection of income flow through capital accumulation. Internet access significantly predicts savings in East Africa today. In this digital era, most businesses are run online. Therefore, it is almost impossible to save with no internet access. Similarly, those who use digital payment systems are most likely to enhance their savings. Age and gender do not influence the saving of an individual in East Africa. Likely, owning a financial account does not translate to more savings. Most East Africans have non-functional bank accounts. Education levels significantly influence the savings of individuals in East Africa. Highly educated people utilize financial literacy skills to save more. Being out of the workforce reduces individual savings since most of these are out of the working age. 

The current research aims to examine the accounting of digital assets by linking accounting measurement theory to financial disclosure requirements, in light of the challenges related to the absence of specialized international accounting standards for digital assets. The research was divided into two parts: theoretical and applied. The theoretical part included a review of the literature related to accounting measurement (historical cost, fair value, and impairment model) and financial disclosure requirements according to International Financial Reporting Standards (IAS/IFRS) and American standards (FASB, AICPA, and SEC). The applied part used a questionnaire and administered to a sample of financial report users, including academics and professionals, to obtain their opinions on the adequacy of current measurement models, financial disclosure requirements, and shortcomings in international standards. It also explored the possibility of formulating an integrated framework for measuring and disclosing digital assets. The results of the analysis of the questionnaire showed that fair value measurement is more appropriate for the nature of digital assets than traditional models, with the need to enhance disclosure of risks associated with price volatility, liquidity, and operational risks. It also showed that the absence of a specific accounting standard for digital assets leads to poor comparability and increased variation in accounting practices across economic entities. Based on the survey results, an integrated theoretical framework for accounting for digital assets was proposed. This framework includes principles of recognition, measurement, and disclosure, and contributes to achieving the objectives of financial reporting in accordance with the International Accounting Standards Board (IASB) conceptual framework, ensuring relevance, accurate representation, comparability, clarity, and timeliness. The study concluded that developing a specialized accounting framework for digital assets represents a strategic necessity to ensure the reliability and transparency of financial reporting and enhance user confidence, given the rapid growth in the adoption of digital assets within global economic activities.  

This study analyzes the effect of sustainable investment awareness and risk perception on students' interest in green finance instruments, with financial literacy as a mediating variable. A quantitative approach was used, involving 180 student respondents in the Special Region of Yogyakarta, who were selected through a purposive sampling technique using an online questionnaire via Google Forms. Data analysis was conducted using the SEM-PLS method through SmartPLS version 4.1.1.2. The results showed that sustainable investment awareness, risk perception, and financial literacy positively and significantly affect student investment interest in green finance. In addition, financial literacy acts as a significant mediator in the relationship between sustainable investment awareness and risk perception on interest in investing in green finance. This study contributes to developing literature on sustainable investment behavior among the younger generation, especially university students, by integrating financial literacy variables as a mediating mechanism. The findings expand the understanding of how psychological factors and financial knowledge influence investment decisions in sustainability.  

Stakeholder empowerment strategies are globally recognized as a critical factor in enhancing the success of young people in their development. Despite this in Rwanda, some strategies are not well implemented due to inadequate findings. The general objective of this study was to assess the influence of Stakeholders Empowerment Strategies on Performance of Community Development Projects in Rubavu District, Rwanda, including, Capacity Building, Seed Capital and Social Network. The study used stakeholders’ theory, descriptive and correlation design. Questionnaires and interview guide were used to collect both quantitative and qualitative data from 310 respondents. The respondents were selected randomly and purposively from a total population of 1610. The pilot study was conducted with a pre-test of 20 respondents from sample size, which is above the minimum recommended 10% of the sample size. The validity was confirmed to 0.78 while Reliability was measured with Cronbach’s alpha result of 0.84, indicating that the research instruments are accurate to be used.  The study used descriptive statistics of percentage, frequency, mean and standard deviation, and the inferential statistics of Correlation and Regression were done at a significance level of 0.05 using SPSS.  The findings for four hypotheses were tested at ?=.05 level of significance and the results were: There is no significant influence between Entrepreneurial Capacity Building (p=0.000<0.05), Seed Capital (p=0.000<0.05), and Social Network (p=0.000<0.05) and Performance of Community Development Projects were all rejected since (p=0.000<0.05. The study showed that the performance of community development projects is perceived as highly satisfactory, with participants reporting strong agreement on aspects such as timely implementation, adherence to budgets, and stakeholder satisfaction. The highest-rated item was the increase in beneficiaries due to improved service quality. It is recommended that community development project implementers should strengthen the engagement and communication with stakeholders, and organizations should prioritize long-term investments in entrepreneurial training programs, as well as establish partnerships with financial institutions. Future researchers should explore the long-term sustainability of community development projects, focusing on the enduring impact of entrepreneurial capacity-building initiatives, seed capital utilization, and social network development.

This study aimed to examine the influence of team management approaches, specifically team structuring, leadership, motivation, and communication, on the performance of tea processing projects in Rwanda. The study is grounded in Belbin’s Team Role Theory and the Iron Triangle Model and adopted descriptive and correlational research designs. The target population included 185 respondents, comprising factory staff, supervisors, team leaders, and officials from NAEB, MINAGRI, and the Rwanda Tea Growers Cooperative. Data were collected using structured questionnaires and interviews. A pilot test was conducted with 19 respondents to determine the instrument's ability to produce consistent results over time. Validity and Reliability testing of the research instrument yielded 0.78 and a Cronbach’s Alpha of 0.79 from pilot results, confirming the instrument's validity and reliability respectively. Data analysis involved descriptive and inferential statistics, including Pearson correlation and regression, using SPSS version 28 at a 0.05 significance level. 

Macroeconomics plays an important role in influencing firm value and performance. This study aims to analyze the effect of inflation, exchange rates, interest rates, and Gross Domestic Product (GDP) on firm value, with firm performance as a mediating variable. Firm performance in this study is proxied by liquidity, which is measured using the Current Ratio (CR), representing one specific dimension of firm performance rather than its overall performance, while firm value is proxied by the Price Earning Ratio. The study was conducted on infrastructure sector companies listed on the Indonesia Stock Exchange for the 2019–2023 period, using a purposive sampling method. Data analysis was carried out through classical assumption tests, multiple linear regression, and mediation analysis using the Sobel test. The results showed that inflation, interest rates, and GDP had a significant effect on Current Ratio, but exchange rates did not. Meanwhile, inflation, interest rates, and exchange rates had a significant effect on firm value, but GDP did not. The mediation test showed that Current Ratio only significantly mediated the effect of inflation on firm value. These findings indicate the importance of liquidity management and strategies in dealing with macroeconomic risks. Further research is recommended to examine other mediating variables and different industrial sectors.       

Effective management of human, material, and financial resources is crucial for delivering housing construction projects successfully. In Musanze District, Rwanda, many housing projects have faced delays and cost overruns, largely due to weaknesses in planning, coordination, and resource use. Using the Resource-Based View (RBV) and Systems Theory as guiding frameworks, this study assessed how resource management strategies impact the performance of housing construction projects. A descriptive survey design with correlational analysis was used. The study targeted 152 stakeholders, including district infrastructure officers, project managers, site engineers, architects, quantity surveyors, foremen, skilled workers, and material suppliers. A stratified random sample of 110 participants was drawn, and a 10% pilot test (n = 11) was conducted to ensure the questionnaire’s clarity. Reliability analysis using Cronbach’s Alpha produced a value of 0.826, indicating strong internal consistency. Content validity was confirmed with a CVI of 0.87. Data were analyzed in SPSS 25 using descriptive statistics, Pearson correlation, and multiple linear regression at a 5% significance level. Findings indicated that overall project delivery performance was high (composite mean = 4.38). Key delivery indicators such as quality (mean = 4.74), scope achievement (4.56), and stakeholder satisfaction (4.35) were strong, while timely completion recorded the lowest performance (mean = 4.02). Material Resource Management (MRM) exhibited a strong, positive, and statistically significant correlation with project delivery (r = 0.510, p = 0.000), making it the most influential individual strategy.

Seed potato farming projects are essential for increasing agricultural productivity, strengthening food security, and supporting rural livelihoods in Rwanda. However, their performance is often affected by internal organizational culture challenges such as weak communication, limited accountability, unresolved conflicts, and low employee motivation. This study examined the influence of key organizational culture aspects—communication, accountability, conflict resolution, and employee motivation—on the performance of seed potato farming projects in Rwanda. The study was guided by Organizational Culture Theory and Systems Theory and employed both descriptive and correlational research designs. The target population consisted of 420 individuals, including project managers, agronomy staff, field operations personnel, administrative staff, and smallholder farmers involved in the RAB potato seed multiplication project. A sample of 230 respondents was selected using appropriate sampling techniques. Data were collected through questionnaires, interviews, and document review. A pilot test involving 23 respondents was conducted to assess the consistency of the research instruments. The obtained results show a Cronbach’s Alpha value of 0.78, confirming reliability, and a CVI of 0.82, which exceeds the acceptable threshold for validity, meaning the research instruments were both dependable and appropriate for accurately measuring the study variables. Only items with a Content Validity Index (CVI) of at least 0.70 were retained. Data were analyzed using descriptive statistics, correlation, and regression analysis with SPSS version 28 at a significance level of 0.05.      

This paper focuses on a classic policy trade-off by unraveling the role of financial deregulation in driving financial stability and exploring how the role of regulatory quality can affect this relationship. To this end, this study uses a balanced panel dataset of 73 countries across a period of ten years starting from 2014. The empirical specification utilizes a two-step System GMM approach, accounting for both endogeneity, unobserved heterogeneity issues, and persistence in financial stability. Specifically, financial stability is measured by non-performing loans (NPLs), which represent the level of risk exposure of national banking sectors. The findings reveal that financial freedom leads to higher level of financial instability, proving theoretical predictions of the excessive risk-taking behavior of lending institutions encouraged with financial deregulation. Furthermore, the interaction term between financial freedom and regulatory quality is statistically significant, suggesting that financial deregulation can be compensated by the quality of regulatory environment. The role of the GDP per capita variable used for stabilizing the findings is significant as it represents the resilience of more developed economies. The implications of the results are complex. In a more institutional context, this finding suggests that financial stability is not a direct function of financial freedom but is conditional on institutional capability. Hence, high regulatory quality can mitigate the instability caused by financial freedom, thereby enabling a balanced approach.